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100 Organizations Urge Congress to Oppose Territorial Tax Plan

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One hundred organizations, including a number of progressive groups and labor unions, are urging Congress to reject a major international tax change proposed in Republicans' framework for a tax overhaul.

In a letter dated Monday, the groups speak out against the framework's move toward a "territorial" tax system that would largely exempt American companies' foreign profits from U.S. tax.

"It is an incredibly bad idea," wrote the groups, which include the AFL-CIO, Americans for Tax Fairness and the Financial Accountability and Corporate Transparency Coalition.